Armchair Philosophy, May 19th, 2020
Topic: What is the Economic Transaction of Human Activity?
In the simplest of terms, most people would likely consider economic transactions to be an exchange wherein money changes hands. I would like to propose a definition that contends with this idea. I would consider money to not be the defining factor of economic transactions, but that all choices that people make are economic transactions.
While studying economics I began to think of all human activity in terms of opportunity cost. Opportunity cost can loosely be defined as the concession that one must give up in order to obtain or accomplish a certain thing or task. As I realized that money is just one type of opportunity cost, I considered that it may not be the best metric by which to measure economic activity. Time, activities, and alternate products could all be kept or gained if you chose to not make the purchase that you made. And when you consider that money is just a stand-in for a good that the person you are trading with will eventually purchase with that money, I came to realize that transactions can have a far broader scope.
Since economic transactions can have costs that go beyond the money that trades hands, I decided to think more about this concept and break down what could really entail economic activity. Driving to pick up a product is a part of the cost of gaining that item. When people work for other companies, they are selling their labor for money. That is what it means to be an employee. But what about when neighbors choose to stop and speak with one another? If I spend 20 minutes speaking with my neighbor, that is 20 less minutes that I could spend working on this local. Even if not directly affecting my income or productivity, would this not be considered an exchange of my time for my neighbors? I believe it would be.
Economics is interesting in that it is really just a measure of human trade. But the exchanges that people make outside of business doors are rarely ever considered in economic terms. I find this to be odd, being that business transactions are really just initiatives to help people gain what they do not yet have, or perhaps more of something they have a finite amount of. I do not have a best friend inside of my own person to speak with, so I must rely on someone else to fill that role. Likewise, I do not have the ability the cattle or time to make my own beef, so I purchase beef. Both of these things involve interaction with another person to provide me with what I need/desire. The time or product I spend to gain these things is time I am not spending to gain other things of value to me. From a philosophical viewpoint, I see these actions as both being transactional in nature, and even economic. My personal economy has me trade all forms of goods, services, and other opportunity costs all in order to gain what I need and desire. I believe this to be the case for all people.
In summary, the economic transaction of human activity is the sacrifice or giving of personal opportunity cost to gain something of value. In this sense, economic transactions make up the majority of human activity, be there business involved or not. I believe that this is the healthiest way to view economics, as it enables people to understand economics on the most personal of levels.
If you agree or disagree with this concept, be sure to let me know in the comments below. I look forward to understanding your thoughts on the topic.
Just thought I'd share this comment I was trying to comment on a Lotus Eaters video. Btw, ya'll should follow the Podcast of the Lotus Eaters if you aren't already. Great analysis and discussion
It's been a while since I've made a video, and this time with a locals exclusive. A cherry on top that I managed to fit within the size requirements. I like making shorter form content like this, considering my tendencies to ramble. Having content exclusive for my followers here is something I'll be working on doing more and more. I'll be creating more value here for my subscribers as well, with some subscriber exclusive content in the future. No timeline promises, cause I think we know how I get when I make a ton of promises (go hardcore for a week and then fall flat on my face unable to keep up with the sprint, lol).
Anyhow, let me know your thoughts and questions below. Have a great day everyone!
A direct upload! It turns out I recorded a video just short enough to meet the minimum upload offerings that locals offers to small communities like mine. That means you guys get this exclusively on locals!
I didn't sleep much last night, so I decided this was the perfect time to mull over my confused thoughts on how businesses are viewed from a legal perspective. Businesses are somewhat legal enigmas to me. Corporations are kinda treated as persons so that they can be double taxed, but have other protections, other types of businesses aren't treated the same way. They're able to consolidate power like governments, yet aren't subject to any form of limitations in regards to violating natural rights the same way the government is, despite being treated somewhat like persons they can still buy each other. It's just very odd to me from a principled, legal, and philosophical position.
Anyhow, my ramblings here are just that, ramblings. Still, I am curious what you all think of this topic. ...
The 2020 election is over, and the battle has just begun. What do I expect to come from the end of the election? Will the legal suits turn over anything for this election, or will they mean something for later down the line? I reflect on these questions and more in this discussion, and I also reflect on some final thoughts relevant to the Rise and Fall of Empire Series, that, thus far, being episodes 8 through 10 of the Construct Cast. Let me know your thoughts, and if you have any reflections of your own from this year's political cycle or other developments that you can't seem to get off your mind in the comments below.
In this episode of the Construct Cast, I discuss my analysis of Sir John Glubb's The Fate of Empires and Search for Survival, with an emphasis on my own consideration for what it would take to help an empire survive, or reboot. If immortality for an Empire is impossible, is rebirth impossible in the same way? Let me know your thoughts in the comments below.
Editor's Note: Returning to the podcast versions of the Construct Cast, I want to catch our content up to the videos we have had released over the past month. I apologize for this getting away from me for a bit. With the rise in content production, I had allowed this to get away from me. We will be returning to audio podcast uploads of the Construct Cast as per our original regular schedule, at 12PM EST on the day of the original upload, going forward.
In this second Crossover podcast, we are once again recording with Kevin @Eng_Politics. His channel is a bastion of political thought and analysis from the perspective of a conservative engineer. Interested in diving deeper into my concept of Progressive Traditionalism and combating the concept with his own beliefs of what it means to be Conservative, we decided to put our definitions and beliefs to task in this crossover episode!
Be sure to check out Kevin's locals community here:
And if you're more interested in the video version, here is a direct link:
As someone who works with daily reporting to the Fed, big companies dealing with regulation are basically a clusterfuck and the requirements basically leave the companies in a position where they can never really update their systems because they need their systems literally every day. They can make new systems, potentially, but updating the regular system is more of a liability since missing a single day can screw the company up. At the same time, it seems like the big companies, at least the one I'm in, are mostly carried forward by the inertia of their own weight. I am fully convinced there will be another massive financial crisis if other major banks are like mine, just cause there really isn't anything that can be done if something is messed up. It's like fake it til you make it, only in reverse. Once something goes wrong, the requirements for constant regular action leaves no time to go back to correct the damage. All you can do is mitigate. Like debt gaining interest, eventually ...
Does anyone have any advice for the work, life, content creator balance? I just genuinely have not had the spirit in me to be able to create the content I want to be able to create these past few months as I am just feeling totally worn out day in and out. I'd like to get back into the philosophic deep dives and contemplations you followed me for, yet that's feeling like a lifetime ago now and every day feels like a step away from where and what I'm supposed to be doing
My locals app is finally working again. Been sick lately. Started considering the differences between corruption and evil. I decided to look at it from a moral framework and came up with a new perspective on how to define the 2 from a moral standpoint. A corrupt person will defy their morals to achieve their goals, whereas an evil person will determine their morals based on whatever ends satisfy or help to achieve their goals. In this way, you can see that a corrupt person may acknowledge when they are doing something morally wrong and feel guilt over it, whereas an evil person will determine that all who oppose them are the true evil threat and could even assess their own will as being justice.
Just a little thought that's been running through my mind lately. And it's interesting because it really makes you wonder which is worse? One who will defy morals or one who will redefine them? Perhaps they both have the same end result, but do they both have the ability to find redemption? I ...
Welcome to Commutation Construct. This is a community designed around maximizing open dialogue and discussion. Get your first month on us by using the coupon code "STARTHERE" or by following this link:
Happy to have you!